EQS-News

Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won

EQS-News: Delivery Hero SE / Key word(s): Financing Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won 15.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won

• Delivery Hero further optimizes its capital structure by successfully redenominating its existing EUR 540 million term facility to South Korean won
• The transaction aligns Delivery Hero’s debt currency mix more closely with its cash flow profile
• The amended facility will have a principal amount of KRW 794.0bn and quarterly interest payments based on a rate equivalent to the CD rate plus 5.00% p.a.

Berlin, 15 May 2024 – Delivery Hero SE (“Delivery Hero” or the “Company”), the world’s leading local delivery platform, today announces the successful redenomination of its existing EUR 540 million term facility to South Korean won, effective 13 May 2024.

Following the successful syndication of a EUR 540 million term facility announced on 18 March 2024, the Company reached an agreement with all lenders in this facility to change the currency from euro to South Korean won. The amended facility will have a principal amount of KRW 794.0 billion. Interest payments will be made quarterly based on a rate equivalent to the Certificate of Deposit (“CD”) rate plus 5.00% p.a. All payments under the facility will be made in US dollars, with reference to the exchange rate between the US dollar and the South Korean won at the time of the payment. The maturity of the term facility remains December 2029, in line with existing term facilities.

Emmanuel Thomassin, CFO of Delivery Hero, said: ”We are proud to successfully execute such an innovative financing transaction in the debt capital markets. South Korea is our largest single market, but we had raised limited debt in local currency until now. Redenominating part of our term facilities to South Korean won allows us to align our debt currency mix more closely to our cash flows. We are grateful for the continued partnership with our lenders, in particular the teams at Apollo Global Management and Farallon Capital Europe LLP with whom we collaborated on this transaction.”